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Veranda Learning Solutions sets Oct. 6 record date for spin off
The demerger will be on a 1:1 share entitlement basis, and the stock will begin trading ex-benefit from the record date.
Veranda Learning Solutions has fixed Tuesday, October 6 as the record date to determine which shareholders are eligible for its spin off of JK Shah Commerce Education Limited, according to LiveMint Markets.
The demerger will follow a 1:1 share entitlement ratio, meaning eligible shareholders will receive 1 equity share of JK Shah Commerce Education Limited for every 1 equity share of Veranda Learning Solutions held as of the record date.
The company also said Veranda Learning Solutions shares will start trading ex-benefit from the record date, meaning they will trade without the value of the demerged entity.
LiveMint Markets reported that JK Shah Commerce Education Limited will pursue listing of its shares on BSE and NSE after mandatory approvals and processes.